Analysts Set Sysco Co. (NYSE:SYY) Target Price at $85.93

Shares of Sysco Co. (NYSE:SYY) have received an average rating of “Moderate Buy” from the fifteen ratings firms that are covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $85.93.

A number of analysts recently commented on the company. Wells Fargo & Company decreased their price target on Sysco from $87.00 to $82.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. StockNews.com downgraded shares of Sysco from a “strong-buy” rating to a “buy” rating in a report on Wednesday, December 18th. Melius started coverage on shares of Sysco in a research note on Wednesday, December 18th. They issued a “hold” rating and a $85.00 target price on the stock. Melius Research upgraded shares of Sysco to a “hold” rating in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. upped their price objective on Sysco from $85.00 to $88.00 and gave the company an “overweight” rating in a research note on Monday, September 16th.

Insider Buying and Selling

In related news, SVP Eve M. Mcfadden sold 4,036 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $75.10, for a total value of $303,103.60. Following the sale, the senior vice president now directly owns 48,451 shares of the company’s stock, valued at $3,638,670.10. This trade represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Greg D. Bertrand sold 48,027 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $77.00, for a total transaction of $3,698,079.00. Following the completion of the transaction, the executive vice president now directly owns 56,304 shares of the company’s stock, valued at approximately $4,335,408. This represents a 46.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,306 shares of company stock valued at $6,485,050. Company insiders own 0.54% of the company’s stock.

Institutional Trading of Sysco

A number of hedge funds have recently made changes to their positions in the stock. Armstrong Advisory Group Inc. raised its holdings in shares of Sysco by 1,240.0% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 335 shares of the company’s stock valued at $26,000 after buying an additional 310 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Sysco in the 3rd quarter worth approximately $26,000. Valley Wealth Managers Inc. bought a new stake in Sysco in the third quarter valued at $31,000. Focused Wealth Management Inc bought a new stake in shares of Sysco during the 3rd quarter valued at about $37,000. Finally, Fairscale Capital LLC purchased a new position in shares of Sysco during the 2nd quarter worth approximately $38,000. 83.41% of the stock is owned by institutional investors.

Sysco Price Performance

Shares of SYY opened at $74.65 on Friday. The stock has a market cap of $36.67 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.10 and a beta of 1.18. The business’s fifty day moving average is $77.04 and its 200 day moving average is $75.74. Sysco has a 12-month low of $69.03 and a 12-month high of $82.89. The company has a quick ratio of 0.73, a current ratio of 1.26 and a debt-to-equity ratio of 5.38.

Sysco (NYSE:SYY) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $1.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.13 by ($0.04). The company had revenue of $20.48 billion for the quarter, compared to the consensus estimate of $20.47 billion. Sysco had a return on equity of 101.04% and a net margin of 2.44%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.07 EPS. Sell-side analysts anticipate that Sysco will post 4.57 earnings per share for the current fiscal year.

Sysco Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 24th. Investors of record on Friday, January 3rd will be paid a dividend of $0.51 per share. The ex-dividend date is Friday, January 3rd. This represents a $2.04 annualized dividend and a yield of 2.73%. Sysco’s dividend payout ratio is currently 52.44%.

Sysco Company Profile

Sysco Corporation, through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally. It operates through U.S. Foodservice Operations, International Foodservice Operations, SYGMA, and Other segments.